The U.S. CFTC has announced the launch of the Crypto Sprint initiative to align with the SEC's Project Crypto.

BlockBeats News, August 2nd, Caroline D. Pham, Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), announced today that the CFTC will launch a Crypto Sprint Program to begin implementing the recommendations of the President's Working Group on Financial Markets' report.

“The CFTC is working diligently to realize President Trump's vision of making the United States the Cryptocurrency Capital of the World,” Acting Chair Pham stated. “We will closely collaborate with SEC Chair Paul Atkins and Commissioner Hester Peirce to advance 'Project Crypto.' Providing clear regulation for the digital asset market now and promoting innovation will fulfill the government's commitment to usher in the Crypto Golden Age.”

Officials stated that since January, the CFTC has held its first-ever CEO Crypto Forum, rescinded outdated staff letters, and issued new guidance to enhance regulatory transparency for U.S. and global innovators and entrepreneurs in the crypto and digital asset space. The CFTC has discussed a pilot program for the digital asset market and has participated as an observer in industry tokenization initiatives.

Furthermore, the CFTC recently concluded public consultations on two crypto market innovations—24/7 trading and perpetual derivatives. Perpetual derivatives have been trading on CFTC-registered Designated Contract Markets (DCMs) since April, and 24/7 trading has been operational since May.

BlockBeats previously reported that the SEC's Project Crypto initiative will enable the U.S. financial markets to achieve on-chain capabilities, assisting President Trump in making the U.S. the “World Capital of Cryptocurrency” and maintaining America's dominant position in the crypto asset market.